Product Management and the inspirations around it - a Malaysian point of view.

Monday, April 6, 2009

Assessing Product Opportunities

"Complicated is interesting, Simple is useful' - I heard this recently. The best advice is normally the simplest one, isn't it?
So I was thinking about how can I systematically access the potential of a new product, and I found a good article in SVPG (yet again).

And here's the thought process - guiding questions to help discover the answer:
1. Exactly what problem will this solve? (value proposition)
2. For whom do we solve that problem? (target market)
3. How big is the opportunity? (market size)
4. What alternatives are out there? (competitive landscape)
5. Why are we best suited to pursue this? (our differentiator)
6. Why now? (market window)
7. How will we get this product to market? (go-to-market strategy)
8. How will we measure success/make money from this product? (metrics/revenue strategy)
9. What factors are critical to success? (solution requirements)
10. Given the above, what’s the recommendation? (go or no-go)